BorgWarner Inc. (NYSE:BWA) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 5,020,700 shares, a drop of 20.0% from the July 31st total of 6,272,800 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 1,770,000 shares, the days-to-cover ratio is currently 2.8 days.

BWA has been the subject of several recent research reports. Citigroup lowered their price objective on BorgWarner from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Cowen set a $47.00 price target on BorgWarner and gave the stock a “buy” rating in a research report on Friday, July 19th. Nomura initiated coverage on BorgWarner in a research report on Tuesday, August 27th. They issued a “buy” rating and a $41.00 price target for the company. ValuEngine lowered BorgWarner from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 10th. Finally, Morgan Stanley set a $47.00 price target on BorgWarner and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $46.50.

Shares of NYSE BWA traded up $0.76 during trading on Friday, hitting $40.00. The company had a trading volume of 2,003,542 shares, compared to its average volume of 1,705,695. The company has a market cap of $8.10 billion, a P/E ratio of 8.93, a PEG ratio of 1.28 and a beta of 1.87. BorgWarner has a 52 week low of $30.71 and a 52 week high of $46.97. The business’s 50-day moving average is $34.44 and its 200 day moving average is $38.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.31 and a current ratio of 1.66.

BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, July 25th. The auto parts company reported $1.00 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.00. BorgWarner had a net margin of 7.53% and a return on equity of 20.13%. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the firm posted $1.18 earnings per share. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, research analysts expect that BorgWarner will post 3.88 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Friday, August 30th. BorgWarner’s dividend payout ratio is presently 15.18%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mason Street Advisors LLC grew its holdings in shares of BorgWarner by 0.9% during the 1st quarter. Mason Street Advisors LLC now owns 29,631 shares of the auto parts company’s stock valued at $1,138,000 after purchasing an additional 267 shares during the last quarter. State Treasurer State of Michigan grew its holdings in BorgWarner by 0.5% during the 1st quarter. State Treasurer State of Michigan now owns 59,896 shares of the auto parts company’s stock worth $2,301,000 after acquiring an additional 300 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in BorgWarner by 3.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 8,661 shares of the auto parts company’s stock worth $364,000 after acquiring an additional 302 shares during the last quarter. Schafer Cullen Capital Management Inc grew its holdings in BorgWarner by 0.4% during the 2nd quarter. Schafer Cullen Capital Management Inc now owns 107,671 shares of the auto parts company’s stock worth $4,304,000 after acquiring an additional 402 shares during the last quarter. Finally, Empirical Finance LLC grew its holdings in BorgWarner by 0.8% during the 2nd quarter. Empirical Finance LLC now owns 59,682 shares of the auto parts company’s stock worth $2,505,000 after acquiring an additional 502 shares during the last quarter. Institutional investors own 91.49% of the company’s stock.

About BorgWarner

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.

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